Showing posts with label Economics. Show all posts
Showing posts with label Economics. Show all posts

Monday, 23 February 2015

NEOLIBERAL SINN FEIN FINE GAEL COALITON PLANS


Neoliberalism is a deceptive modern term, used to hide the reality of deregulation and corporate fascism, introduced by secret state, mentored politcians, like Margaret Thatcher in Britain. Like much of the British left, I too was fooled by the Sinn Fein's reality of Neoliberalism. My first experience of this, was when they first participated, as a party, for the Assembly elections of 1982.

In my capacity as election agent for the South Down candidate Cyril Toman and as chairperson in Newry Sinn Fein, I attended the party's first election convention in the present troubles, with approximately 30 other representatives from  across the North, to decide on what would be the Party's manifesto for the election.

Being from an area with approximately 80% unemployment in Newry, which was also  reflected in other republican strongholds like Derry and West Belfast, I pushed hard for unemployment, to be one of the principal issues to be addressed, on the Party's Election Manifesto. I was shocked to learn, I had hardly any support on this issue. However, I persisted on this issue and to the annoyance of many, the convention voted to adopt unemployment, as one of it's principal issues. However lo and behold, when the Manifesto was published, the agreed issue was not included.

As an Election Agent, it was too late for me to do anything about it but this will give you an insight, into their right wing reality, as opposed to their left wing public image. I eventually resigned from the party, some years later, on this and other issues, when I realized, I could not bring about the changes, I worked for within the party. Believe me, from personal experience, Sinn Fein are as right wing as the Blueshirts of Fine Gael, and will be their natural Coalition partners, after the next election in the South. Watch how they walk not how they talk, in the examples below.

Sinn Fein are content to serve as junior partners in a right wing, dominated coalition at Stormont, which have agreed to austerity, reductions in public spending, privatisation, the PFI, and tax cuts for business, as proposed by David Cameron and Fine Gael, in what was dubbed by Martin McGuinness as the "remarkable" Stormont Agreement.

This has been the Sinn Féin progression, since it agreed to the "Northern Ireland Executive" in 1999 with the Democratic Unionist Party. This corporate fascism happened, under the cover of the contemporary deception, of what is called Neoliberalism, which is anything but Liberal in the traditional sense. It is a precise duplicate, of what is currently happening in the south of Ireland, under a Fine Gael (Blueshirt) led Government, Sinn Fein are in reality, ‘Stormont Thatcherism’.

Sinn Fein surrendered Irish working class unity, in the Bad Friday Agreement, by giving Unionists a veto, over Irish unification, which is de facto acceptance, of partition and British rule. Sinn Féin are only purporting verbal resistance, to the neoliberal policies, imposed on Occupied Ireland by the Tories of Westminster and have actually incorporated, Thatcherite deregulation, into party policy.

An example of this reality, Sinn Féin's control of the education brief, has established, drastic reductions for children with special needs, enforced major school closure programmes and adopted PFI, to replace school structures, particularly damaging rural and disadvantaged areas. Sinn Féin despite EU stipulations, have cut rates of corporate tax, so that all of the money, ends up in the pockets of the rich, from the British block grant, which will see the loss of £300 million, without any job created.

Sinn Féin members of the Social Development Committee, have also unanimously approved plans, to introduce workfare. Sinn Féin have further agreed, to the privatisation of water infrastructure and the public transport network, while supporting the DUP to facilitate local government privatisation.These are clearly, an extension of Thatcherite, neoliberal, policies  The paradox of Sinn Féin in the South, are pretensions of being to the left, for tactical, electoral reasons, only. Sinn Féin are in reality ,a neoliberal party, a modern term for the rebranding or sanitizing of the modern fascist corporate state.

To put all of this into context.The  reality of the Bad Friday Agreement, was that it was in effect, Sunningdale Mark II by deceptive, secret, means, with the same implications, as the enforcement of the Treaty signed in secret in 1921 and enforced in the South by the Blueshirts.
Provisional Sinn Fein are both in historical terms and economic terms, the natural Coalition partners of the Blueshirts, not the Irish Left, after the next election in the South and will enforce their mentored mandate, with the same ruthlessness, as the Blueshirts formerly did in the Irish Civil War, with the help of the British. It would appear, that this strategy was adopted since Sunningdale and both McGuinness and Adams, were key components of it, since.

brionOcleirigh



Greece: The Way Forward for Ireland?

February 21, 2015 "ICH" -The Greek government is in Brussels to discuss the full range of economic issues with its European partners, including budgets, debt and structural reforms. At issue is whether funds will be available to keep paying the bills, on policy terms that Greece can accept.

Two factors complicate this issue. The first is the past Memorandum, alongside a set of tight deadlines, created by the previous government in part to entrap the new one. The second is the European decision-making process, which gives great apparent weight to governments of small countries, many of whom are internally insecure. The easiest path for them is to insist on no changes; anything else amounts to self-rejection.

So far, the Greek achievement consists of stating raw truths in rooms full of self-serving illusions. This exposes contradictions, bringing on facile ripostes, easily rebutted. It also brings on threats and menacing gestures, intended to test resolve. The Greek government seems to have met that test.

It can now proceed to the next step.

The next step is to define carefully what may be accepted. As for reforms, as much as 70 percent of the previous memorandum is (and always has been) common ground. That which is not – fire-sale privatizations, destructive labor market liberalizations and the unreachable 4.5-percent target primary surplus – can be spelled out. Reasonable language to describe the process of discussion to follow may be found.

When this is done, the final decision will be up to Europe – and to Germany, above all. Will Berlin continue to squeeze, in order to pressure, and so risk bringing on a Greek collapse? If so, it will be better to know soon. But Europe may well decide, if not from pragmatism then from a larger strategic vision, that Greece cannot be allowed to fail. In that case, agreement may be reached and the revival of Greece may begin.


James K. Galbraith
James Galbraith is the author of “The End of Normal: The Great Crisis and the Future of Growth.”

Friday, 10 October 2014

IRELAND TO BE BURNED IN ANOTHER MINSKY MOMENT




In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the next Minsky moment in the global financial ponzi scheme. They also discuss the Conservative Party in the UK pushing young people into the debt pyramid by offering a 20% ‘discount’ on property and penalizing young people who don’t go into debt in order to go to university but who choose to work instead. In the second half, Max interviews Susanne Tarkowski Tempelhof, founder and CEO of BitNation (where the motto is ‘Blockchains, Not Borders)’ about sovereignty, love and divorce on the blockchain.

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Ireland, Iceland, a contrasting tale of two countries. Iceland, has a population of 320,000 people, while the Republic of Ireland has a population of 4.6 million. In the years before the financial crash of 2008, both countries had unsustainable real estate and consumer booms. Both countries had slack regulated financial sectors that got out of control. Iceland's big three banks, Glitnir, Kaupthing and Landsbanki had lent more than US $200 billion, eleven times the country's GDP. Ireland's Anglo Irish banks, were holding assets, seven times thier GDP on their books,  while much of the money was lent overseas.

"People in Iceland recognized that something had gone badly wrong with the country's political system."

When the crisis hit in the 2008 the two countries reacted very differently. Iceland's former prime minister, Davio Oddsson, explained that the privatized banks had been 'a little heedless' and the state wasn't going to bail them out. Icelandic deposits were protected and the government refused point blank, to take responsibility for most of the losses. In Ireland, however the government not caring much about its own naive people, turned the banking crisis into a sovereign debt crisis, under the cover of declaring the banks were too big to fail and decided the Irish taxpayer would foot the bill.

The People of Iceland, recognized there was something badly wrong with their political system and responded, by drafting a new constitution and they legally tried and convicted a former prime minister, Geir Haarde, for negligence. In Ireland however it is far easier for politicians to deceive the country people and there was no serious price to pay by any of the political and economic establishment. The traditional fascist party of Fine Gael, along with political careerists waving the Labour flag, replaced a corrupt Fianna Fail government. They simply moved around the personnel but not the underlying policies of deceit and corruption.

The Irish decided in a referendum to ratify the European Fiscal Compact, an EU treaty to lock Ireland's fiscal sovereignty and national government, into a programme of public sector austerity. Even the British government, with its Thatcherite Tory culture of public spending cuts refused to sign up but the Irish sheep, were once again led down the garden path by their gombeen politicians. 

Once morehe Irish government, borrowed more than 10 per cent of the money it spent from the banksters, with the country going into recession, it will never be able to genuinely balance its budget and will always be the debt slaves of the hidden City of London banksters. The acceptance of the European compact, marked a further step away from the path chosen by Iceland, where the needs of the people, come before the global financial sector and the City of London..

The political class of Europe shifted the costs of the banking collapse, onto national balance sheets. The bankster's losses are paid off through cuts in public spending and more privatization. It does not make economic commonsense except from the self interests of Irish politicians, what the bankers want and is a nice cosy pay off. The Irish state sold off assets like water and God know there is more than enough of it in Ireland, to private companies, who then charge fees for what were the original natural birthright of Irish people. The banksters, particularly of disguised, City of London origin, are makinge fortunes from the expansion of now further credit in Ireland, and are now making even more money, from turning Irish public property, into City of London corporate revenue streams. It is like the formercolonial rent seeking of the most blatant and abusive kind.

Now there's yet another burst in another credit bubble coming in places like Ireland as explained in the above video. Iceland at least had an honest serious debate about what happened and realized as a result it's its politicians allowed it to happen in the run-up to the banking collapse. Those responsible were held to account and the country's economy is recovering, restoring the living standards of the Icelandic people in a sustainable way but in the Ireland of Catholic culture and media censorship or superficial corporate media debate, where people follow leaders, rather than analyzing or  questioning their doctrine, like sheep are being led to the slaughter once again. European governments like Ireland are following policies, that sacrifice the many for the self interests of the few, repeating its fascist history. Five hundred million citizens of the European Union will have to learn some very hard lessons, from the 320,000 inhabitants of Iceland,if not they will learn what boom and bust, real recession and depression really feels like instead.